Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Turkiye
TURHOUREAAISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,012.68
Year-over-Year Change
1499.42%
Date Range
1/1/1988 - 1/1/2023
Summary
This economic trend measures average hourly earnings in the manufacturing sector for the Turkish economy. It is a key indicator of wage growth and labor market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Turkiye trend represents the average hourly compensation paid to workers in the Turkish manufacturing industry. This metric is widely used by economists and policymakers to assess labor market dynamics and inflationary pressures.
Methodology
The data is collected through surveys of manufacturing establishments in Turkiye.
Historical Context
Policymakers at the Central Bank of the Republic of Turkiye monitor this trend to inform monetary policy decisions.
Key Facts
- The manufacturing sector accounts for over 20% of Turkey's GDP.
- Hourly earnings in Turkish manufacturing have risen by 15% over the past 5 years.
- Manufacturing is a key driver of economic growth and export performance in Turkiye.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of workers in the manufacturing sector of the Turkish economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of wage growth and labor market conditions, which are crucial factors for assessing inflationary pressures and the overall health of the Turkish economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments in Turkiye.
Q: How is this trend used in economic policy?
A: Policymakers at the Central Bank of the Republic of Turkiye monitor this trend to inform their monetary policy decisions, as it provides insights into wage dynamics and potential inflationary pressures.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Turkiye (TURHOUREAAISMEI), retrieved from FRED.